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Schedule 1299 C Income Tax Individual  Form

Schedule 1299 C Income Tax Individual Form

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okay for this video we are now covering schedule c of the forum 5471 which is the income statement so schedule c and schedule f f is the balance sheet schedule c is the income statement these items are generally required for certain types of category filers so if we jump back to the required information table again you can find this in the form 5471 instructions we see here schedule c and f right and the required information schedules and which types of filers must complete this information so cnf again that's the income statement and the balance sheet these are for category three and category four filers right so you recall that our sample fact pattern the us person john here he is a both a category three and four filer for this year so when he completes the 5471 he needs to include this information okay so some of the basics on the schedule c uh schedule c remember ultimately when you file the form 5471 most of the uh the the dollar values have to be translated into us dollar

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